منابع مشابه
Capital Flight and Economic Growth in Iran
Beginning in the mid-1980s, the phenomenon of capital flight from developing countries received considerable attention in the economics literature. Capital flight destroys the domestic macroeconomic environment and decreases transparency and accountability. It restricts financial resources when a country is looking for economic growth and development. The purpose of this article is to measure t...
متن کاملPolitical risk and capital flight
Capital flight often amounts to a substantial proportion of GDP in developing countries. This paper presents a portfolio choice model that relates capital flight to return differentials, risk aversion, and three types of risk: economic risk, political instability, and policy variability. Estimating the equilibrium capital flight equation for a panel of 45 developing countries over 16 years, all...
متن کاملDisclosure Quality, Cost of Capital, and Investors’ Welfare∗
It is widely believed that disclosure quality improves investors’ welfare by reducing cost of capital in a competitive market. This paper examines this conventional wisdom by studying a production economy in which disclosure influences a firm’s investment decisions. I demonstrate three points. First, cost of capital could increase with disclosure quality when new investment is sufficiently elas...
متن کاملReversing Ethiopia’s Intellectual Capital Flight
Recently, the Ethiopian Government drafted a five year plan (2010 to 2015) to achieve the country’s economic growth. When Ethiopia’s Growth and Transformation plan was analyzed in light of the new growth theory and traced historically in terms of the push and pull factors that contributed to the flight of skilled Ethiopians to more advanced countries, it was found that over the years Ethiopia h...
متن کاملPunishment Schedules for Capital Flight
W HAT are appropriate penalties to discourage capital flight? Economic punishments can serve as effective deterrents for economic crimes but the penalties themselves are often costly to impose and enforce. Good public policy must take these costs into account in addition to the effectiveness of punishment schemes. In order to construct a deterrent to economically motivated behaviour, the enviro...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2002
ISSN: 1556-5068
DOI: 10.2139/ssrn.300167